I worked for PIPE 2, page-15

"So Jasonn, essentially TPG are now like a tier 2 Telstra where everyone has to lease wholesale from them if they don't want to pay exorbitant prices to Telstra wholesale"

Yes that is correct although with all the consolidation in the industry there are not many "tier 2" Telcos left. Each acquisition Teoh has executed has had a huge strategic component. When they purchased iinet they were able to take the iinet business and lay it on top of TPG/Pipe's wholesale fibre business and extract huge synergies and rip a bunch of cost out because iinet did not own a wholesale national fibre network or International fibre connectivity.

When they purchased AAPT it gave them the missing link in terms of interstate fibre connectivity.

Somone asked me about my view on TPG buying Voda so here it is: TPG HAVE to launch a mobile network in Australia, if they don't they are in trouble long term because mobile could become the prime method of delivering Internet services. Today's mobile networks are NOT voice networks they ARE Internet networks (IP).Optus makes 40-50% of it's profit from mobile.

If Telstra wanted to (they won't because it would cannibalize there business) they could deliver Internet to every house in the country via mobile and completely ignore the NBN.

IMO Voda will not sell there mobile business to TPG, they have invested billions and billions of dollars and still have not made a return on their investment. When Voda was struggling in Australia they just through money at the business. I just cant see them selling for a price that makes commercial sense for both parties. After investing so much capital why would they sell it ? Vodafone is a very wealthy company globally they don't need the cash.

David Teoh is correct when he says TPG have everything in place except the towers. They have the fibre back-haul to all the towers (Paid for by Vodafone) this is worth over a billion $$ in itself, they have the billing systems and support staff and call centers. They also have the commercial relationships with the customers.

In my view they will launch Singapore as a test case or proof of concept and if that goes according to plan they will build there own Australian mobile network as difficult as it may seem. I expect they would be in the process of planning this now.

I have never worked for or under David Teoh, I left Pipe before the acquisition. Although, I did work with Bevan Slattery and he taught me a lot. Bevan is the smartest guy I have ever worked with the guys a genius. Im heavily invested in MP1 because of Bevan.